Shares of Hazoor Multi Projects hit the upper circuit as soon as the trading session began on Tuesday. The counter opened gap-up with a jump of around 5 per cent at Rs 405.05 on the BSE against the closing price of Rs 385.80 on Monday. The shares of Hazoor Multi Projects, which has a market cap of Rs 755.81, have a 52-week high of Rs 454 and a 52-week low of Rs 85.01.
The surge in share price comes as the company has informed exchanges that its board will meet on April 12 to consider a proposal to increase the authorized share capital and discuss a proposal for further raising of funds.
“The Board of Directors of the Company is scheduled to be held on Friday, April 12, to transact the following businesses: to increase the Authorized Share Capital of the Company and Proposal for further raising of funds, for company’s growing business needs, by way of issue of Equity Shares, Warrants, other securities,” the filing reads.
According to BSE analytics, Hazoor Multi Projects shares have given a massive return of 40,405 per cent in just 5 years. In one year, it has made investors wealthier by 314 per cent.
Meanwhile, Benchmark equity indices continued their record-breaking rally on Tuesday, with the BSE Sensex breaching the historic 75,000 mark for the first time ever in early trade and the Nifty climbing to its fresh new record peak.
Buying in IT stocks contributed the most to the market’s rally in early trade.
The 30-share BSE Sensex climbed 381.78 points to reach its all-time peak of 75,124.28. The NSE Nifty advanced 99 points to hit its record peak of 22,765.30.
